So with the US Government finally sorting out there issues temporarily, we have only really seen further Equity upside and a gradual narrowing of Spreads across the Euribor Curve and Short Sterling Curve. This move down however is the worst kind, one where it just drifts, so this past week I have just been buying, trying to scalp half tick here and there, but its been pretty tough. I amassed quite a big long position in Sep15Dec15 and Dec15Mar16 Euribor Spreads, as these have come down over 2 fat ticks over the week, and I have been building a long position, even though we probably will continue going down further, but today I managed to get out for small profit, after buying alot of 12s in Dec15Mar16, and getting out the whole position at 12.5s.
The reason why I'm going long is that the shock factor will always push this higher, where it may be some data or comments, and as we have come off pretty big since the no tapering Fed Meeting, I just feel more comfortable being long then short.
Now that tapering has been predicted to be pushed back till next year March, looks like the volume will pretty much drift away as we approach Christmas. So In that respect hoping for some good news that might force the Feds hand, but doubt it will happen.
Next week we got quite a bit of data out which is always nice, so hoping for some opportunities from that.
The reason why I'm going long is that the shock factor will always push this higher, where it may be some data or comments, and as we have come off pretty big since the no tapering Fed Meeting, I just feel more comfortable being long then short.
Now that tapering has been predicted to be pushed back till next year March, looks like the volume will pretty much drift away as we approach Christmas. So In that respect hoping for some good news that might force the Feds hand, but doubt it will happen.
Next week we got quite a bit of data out which is always nice, so hoping for some opportunities from that.
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